Only a couple of days ago, I predicted Ripple ($XRP) would fall away from its right triangle pattern.
Another Triangle Success
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Ripple to Fall
That right triangle pattern on the crypto coin ripple ($XRP) is bigger and badder than ever. I’d say this sucker is going much lower now.
Bitcoin Cycles
Splategy, Inc.
Michael Saylor is heralded at some kind of business super genius. I’m not so sure. He has staked his company’s entire fortune and future on one and only one thing: Bitcoin’s price. I think there’s no middleground: he will either succeed wildly and be heralded as a legend, or he is going to create one of the biggest corporate fiascos in business history.
One thing I can say for sure, however: his company’s stock price is down 50% over the past eleven months, and in this laughably over supported, overvalued market, that’s pretty pathetic.
Bull Market in Crypto Could Be Over
In my last post on Tuesday 14th October I was looking at the double top that had just broken down on Bitcoin. I was leaning towards this rejecting back up to the highs along with equities, but that high retest has been playing out on equities without any meaningful participation so far from Bitcoin (BTCUSD), Solana (SOLUSD), or Ethereum (ETHUSD). Last week Bitcoin actually broke and closed below the weekly middle band, in what was a significant support break.
This is bearish and the odds of that double top on Bitcoin playing out have risen considerably. If that double top plays out then there will likely also be serious further support breaks on Solana and Ethereum of a kind that would suggest that the bull market may have already ended on both, and possibly all three. This is what I wrote at the end of my last post:
‘If Bitcoin does reach the double top target would the bull market be over? No, but it would increase the chance that it might be. I would still be leaning towards at least a retest of the all time high from there but that might be forming a double top that could end this bull market cycle. There would also likely be some serious technical damage done on Ethereum and Solana while that played out.’
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